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Have Fun WIth the Whole Family in Flagstaff

by Gary Nelson

Antelope Canyon Near Flagstaff Arizona

It's a well known fact that Flagstaff is a mecca for outdoor attractions and fun.  As such, there's tons of activities that the whole family can enjoy.  There's dozens of places to hike and bike, get a close-up look at bears, look into deep space, enjoy seasonal activities, ride the Scenic Skyride, or just enjoy fishing and camping. You can also enjoy guided activities such as rock climbing and horseback riding.  There's definitely plenty of fun things to do for the whole family that fit just about any interest.

Here's a few family friendly things to do in Flagstaff.

Antelope Canyon & Horseshoe Bend

Antelope Canyon and Horseshoe Bend have certainly been immortalized in photographs and computer wallpapers. Why not take the family and see these wonders with your own eyes? Antelope Canyon Tours takes you to the heart of one of the most recognized slot canyons in the world. Then you'll visit the famous Horseshoe Bend and marvel at the might of the Colorado River. Certainly a memory making journey for the whole family.

Bearizona

There's more than just bears in Bearizona. As you drive through 2 miles of forest you'll get up close to bison, wolves, and more. You're whole family will enjoy watching the bear cubs play along with other small animals. The Birds of Prey show will thrill with large raptors soaring above. It's only 20 minutes from Flagstaff, so it's the perfect way to spend time with the family and enjoy the excitement of local wildlife.

Maverick Helicopter Tours

A helicopter tour of the Grand Canyon might be a little steep on price, but the experience justifies the price tag. This is no ordinary helicopter tour either.  Maverick takes you deeper into the canyon than other tours with their ECO-Star helicopters, specially designed for a full unobstructed view.  You'll see some of the most spectacular views of the canyon as you come up on the North Rim and eastern end.

Outdoor and Indoor Rock Climbing

Flagstaff Climbing is located in the heart of downtown Flagstaff, where you'll find 6500 square feet of widely varied climbing terrain to suit all abilities and climbing styles, just right for a family outing. They also have a bouldering gym next to Paragon Athletics and Wanderlust Brewery on Main Street. The also feature programs for the kids and adults as well.

There's so many reasons to buy your next home in Flagstaff.  Check out our other blog articles and visit us every week for more great reasons to call Flagstaff home.

How to Find the Right Mortgage Lender

by Gary Nelson

Mortgage Broker

Finding a mortgage lender in Flagstaff or online can be a challenge, especially if you don't know what to ask or what points to cover. It's ideal then to prepare to talk to mortgage executives at different types of institutions, like a bank, a lender, and a broker. As a buyer, your first meeting with a lender should be to see if you trust them and what you qualify for.

First you need to find a lender. How do you do this?

1. Talk to a lender before you start looking for a home.

Processing mortgage paperwork can take a long time, so you should start looking for lenders and rates before you decide on your house so you don't lose out on it. Getting pre-approved for a mortgage will make the entire process smoother. In fact, some real estate agents may reject offers from buyers without a mortgage pre-approved, so it makes send to be prepared.

2. Contact different types of lending institutions. 

There are multiple ways of getting a loan. There are banks, credit unions, online lenders, and brokers who offer mortgages. Check out different websites to see where you can find the best deal. Even though you can visit banks and credit unions in person, you may have to call an online company.  Remember to be careful of scams with online lenders.

3. Research common terms and conditions. 

Make sure that you get familiar with the terms and types of mortgages that you may talk about with a lender. Here are some of the terms you will likely encounter:

Interest rate: This is the amount you pay to borrow the loan. The interest rate is a percentage of the loan. You pay this on top of the money you owe to repay the loan.

Annual Percentage Rate (APR): This is the amount you will pay every year for the loan including fees and interest.

Adjustable Rate Mortgage (ARM): This type of mortgage has interest rates that change over time. Rates may start low and then increase which works fine you are planning to sell the house after a few years.

Fixed Rate Mortgage: This type of mortgage has interest rates that do not change over time. If you plan on keeping the house the full length of the mortgage, this type is ideal.

Hybrid Adjustable Rate Mortgage: This type of mortgage has fixed fees for the first year or two. After this point, the rates may change.

Make sure that when you talk to a lender that you're prepared.  Check back on our blog every week for more real estate advice.

Should You Use an Appraisal Contingency?

by Gary Nelson

The time has come at last! You're buying your new home in Flagstaff.  Things are going smoothly so far. The seller has accepted the offer, the contracts are signed and you've put down your deposit.  Now comes the appraisal.  What could go wrong? It turns out that the home is appraised for less than what you offered. Now the bank refuses give you the loan.  Of course you want to avoid this and you can with appraisal contingencies.

Not everyone knows about appraisal contingencies. But you should, because they can save you a lot of trouble. They are conditions that have to be met on a real estate contract before it becomes legally binding.  Most real estate contract include these conditions:

The appraisal contingency: This states that the home has to be appraised at the sale price or higher.  This will help keep the mortgage from falling through.

The finance contingency: This mandates that the deal is based on the bank granting the loan.

The inspection contingency: The home must pass inspection.

If these conditions are not met in a certain period of time, you can back away from the deal with your deposit.

How exactly does an appraisal contingency work? When a home is appraised, the bank will usually only loan the amount that the home is appraised for.  That means that if the appraisal is lower than the seller's asking price, you can walk away from the deal and get your money back if the seller refuses to lower the price.

But isn't this the same thing as a finance contingency?  Almost. If the bank agrees to a smaller loan that meets the finance contingency, then the seller can demand that you make up the difference from your own pocket.  In this case the appraisal contingency protects you, otherwise you have to come up with that extra money, or be in breech of contract and possibly lose your deposit. That's why you should have both the appraisal and finance contingency in a contract.

Does this mean you should always have contingencies in a real estate contract? That depends. Usually a seller can get offers from multiple buyers, especially in a hot market.  The easier the deal is for the seller (by not having contingencies), the better chance you have of getting the home.  But you risk that you won't get the loan you need. In the end, it's up to you, based on the market and what risks you want to take either way.

Find a New Way to Wake Up In Flagstaff

by Gary Nelson

Are you looking for a great new way to start the day in Flagstaff? If you love coffee and are thinking about buying a home in Flagstaff, or you already live here, then you’re in luck.  Flagstaff is home to an abundance of great places to get coffee and tea. You’ll find both major chains like Starbucks, along with local shops.  And it’s these local shops that are fun to explore and discover a new flavor or treat.  It’s a chance to relax while checking out the art scene or just reading or socializing.  Here’s a few of the best coffee shops in Flagstaff to explore.

Kickstand Kafe

You’ll find this nice coffee house located on a quiet side street, creating a relaxing environment away from the tourist crowds. They not only offer great coffee, but a light breakfast and lunch menu, along with delicious pastries. Their espresso drinks are rich in flavor and never burnt, using the highly rated Italian espresso coffee and IIIy café. The friendly service and relaxing setting make this a great coffee stop to just sit and relax with your tasty brew.

Late for the Train

Also located way from the crowds is a great shop known for its unique atmosphere, previously being a gas station. Travelers and locals enjoy coming here on their way to the snowbowl , a hike, or the Grand Canyon.  They offer a full menu of drinks and a year-round pumpkin spice blend. The setting is eclectic, relaxed, and not congested.  It’s a great place to come and relax, especially during the winter months where you can look out at the snow covered pines.

White Dove Coffee Shop

This quaint little shop on the east side of Flagstaff is also a nice alternative if you’re looking for a local coffee house experience.  The pricing is fair and they offer a frequent customer reward program.  In addition to great espressos, they offer a light menu of burritos, bagels, yogurt, and smoothies. You can relax by the cozy fireplace during the winter while playing board games, or just sit and read your favorite book.

There’s a lot of things that make Flagstaff an amazing place to visit and to buy a home.  Visit our blog every week for more great reasons to buy a home in Flagstaff.

 

Should You FSBO?

by Gary Nelson

Are you thinking about selling your home in Flagstaff? If so, you may be tempted to sell it by yourself, otherwise known as a FSBO (for sale by owner).  This may seem very tempting on the surface.  People may think that by cutting out the middle man that you can make more of a profit.  And sometimes that can be the case. But there are many reasons why FSBO home sales are not always the best idea.

Here are five reasons you should think twice about selling your home on your own:

Exposure

Almost all home buyers search online for their home.  You might think that listing your home on Craigslist or some other online market will be enough.  But the question to ask is: do I market homes for a living? The answer is probably no.  On the other hand, most successful real estate agents in Flagstaff have a marketing strategy that covers various methods to get your home the exposure you need to find the highest paying buyers.  The more people who see your home, the more competition there will be.  And that may mean more money.

The Internet Produces Results

Based on recent studies, here’s the breakdown of how buyers found the home they purchased.

  • 49% on the internet
  • 31% from a Real Estate Agent
  • 7% from a yard sign
  • 1% from newspapers

Simply putting a sign on the front lawn is not going to get the buyers you need. Like the last point brought out, successfully selling a home requires a solid marketing strategy that leans heavily to online marketing methods.

Too Many People

Selling a home isn’t like selling a bicycle. There’s a number of people who legally will be in the mix.  This a huge transaction, and that means that various professions are called into play during a real estate transaction. Here’s who you’ll have to negotiate with if you decide to FSBO:

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interest of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always find some problems with the house
  • The appraiser if there is a question of value

Are you successfully prepared to deal with all of these individuals?

FSBOing Has Become More Difficult

The number of sellers selling their own home has dropped from 19% to 8% over the past 20 years, simply because of the complexity of the paperwork.

Using an Agent Nets More Money

Your gut reaction to the title of this paragraph may be “sure, the agent makes more money.”  Yes they do.  And so do you. In fact, a study by Collateral Analytics revealed that FSBOs don’t actually save anything, and in some cases, may be costing themselves more, by not listing with an agent. One of the main reasons for the price difference at the time of sale is:

“Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.”

When more buyers look at a home, there could be a bidding war. And is certainly the case when you use an agent.

Let us help you make the most money on your home for sale in Flagstaff.  Give us a call today at 928-225-3510 or 928-773-9300 and let us show you why using an experienced real estate agent is the smart move.

Displaying blog entries 1-5 of 5

Contact Information

The Gary Nelson Group
Realty Executives of Flagsaff
15 E. Cherry Ave. Suite 101
Flagstaff AZ 86001
Direct: 928-225-3510
Office: 928-773-9300
Fax: 928-774-1102


 

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